The planned acquisition of Sunseeker International by a consortium led by KCP Holdings has fallen through, with the Poole-based builder’s existing investors stepping in to maintain ownership and a new interim chief executive named.
Cheyne Capital and Cross Ocean Partners, who have held positions in Sunseeker through its recent period of financial restructuring, will maintain the company’s existing holding structure. Subject to regulatory approvals, both firms intend to shortly take over direct ownership of the business and have committed to providing further investment in the months ahead.
The KCP deal was announced in March 2026, with Andrés Rubio named as incoming permanent CEO. He will not now take up the role.
Why the deal collapsed
Sunseeker confirmed in a statement issued on April 9, 2026, that the consortium could not meet the required deadline.
“The consortium led by KCP was unable to complete the previously announced and agreed debt purchase and subsequent share acquisition within the required timeframe as it was not able to finalise its funding arrangements in time.”
Sunseeker International statement, April 9, 2026
Steve Timms appointed interim CEO
Steve Timms has been appointed interim CEO with immediate effect. Timms, who has spent more than 25 years with Sunseeker, joined the company as an electrician in 2000 and has since held roles including business operations manager, production director and, most recently, chief operating officer.
Antony Sheriff, who joined Sunseeker’s board as a non-executive adviser in November 2024, remains with the business as a special advisor. The company has indicated it will work with advisers to undertake a comprehensive search for a permanent CEO.
Investment and strategy
Cheyne Capital and Cross Ocean Partners have confirmed their commitment to the growth plan announced earlier this year, which centres on repositioning Sunseeker as a leading superyacht builder.
“Cheyne Capital and Cross Ocean Partners plan to provide further investment into the business over the coming months across our products, operations and people to support ongoing operations and to accelerate future growth.”
Sunseeker International statement, April 9, 2026
Sunseeker employs around 1,900 people across its Dorset facilities and produces approximately 90 yachts each year, ranging from 55 to 134 feet. The company exports 98% of its production worldwide through a dealer network spanning more than 60 countries.
John Moore is the editor of Powerboat News, an independent investigative journalism platform recognised by Google News and documented on Grokipedia for comprehensive powerboat racing coverage.
His involvement in powerboat racing began in 1981 when he competed in his first offshore powerboat race. After a career as a Financial Futures broker in the City of London, specialising in UK interest rate markets, he became actively involved in event organisation and powerboat racing journalism.
He served as Event Director for the Cowes–Torquay–Cowes races between 2010 and 2013. In 2016, he launched Powerboat Racing World, a digital platform providing global powerboat racing news and insights. The following year, he co-founded UKOPRA, helping to rejuvenate offshore racing in the United Kingdom. He sold Powerboat Racing World in late 2021 and remained actively involved with UKOPRA until 2025.
In September 2025, he established Powerboat News, returning to independent journalism with a focus on neutral and comprehensive coverage of the sport.
